July 23, 2012
Issue # 78

Editor's Note

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League Board Sends Five Initiatives from November Ballot to Policy Committees for Review

During its meeting last week in Manhattan Beach, the League board of directors voted to refer five of the 11 initiatives that have qualified for the November statewide ballot to one or more policy committees for review during the League annual conference on Sept. 5 in San Diego. Propositions 30, 31 have been referred to the Revenue and Taxation Policy Committee. The Administrative Services Committee will review Prop. 31 and the Public Safety Policy Committee will review Props. 24, 35 and 36. Proponents and opponents of each measure will be invited to present during the policy committee meetings.

Key words: Board, Administrative Services, Public Safety, Revenue and Taxation 

DOF Commits That Errors in July “True-Up” Billings Will Be Corrected

Delays Any Sales Tax Suspensions Until No Sooner Than September

DOF sent a letter to redevelopment successor agencies on July 20 to advise the agencies that DOF staff is reviewing the billing information provided to the agencies by county auditor-controllers to verify the correctness of the amounts billed.

Key words: Redevelopment, Successor Agencies, Revenue and Taxation, State Budget, Municipal Finance

Fitch Completes Review of 62 California Redevelopment Agency Tax Allocation Bonds, Revises Ratings

Fitch Ratings has completed its comprehensive portfolio review of 62 ratings on tax allocation bond securities (TABs) issued by 36 former California redevelopment agencies. On Jan. 24, Fitch placed the TABs on Rating Watch Negative following the implementation of AB 1x26, which dissolved redevelopment agencies statewide.

Key words: Redevelopment, Redevelopment Bonds,Successor Agencies, Revenue and Taxation, State Budget, Municipal Finance